Envestnet Asset Management Inc. decreased its position in shares of CubeSmart (NYSE:CUBE - Free Report) by 21.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,299,772 shares of the real estate investment trust's stock after selling 358,408 shares during the period. Envestnet Asset Management Inc. owned approximately 0.57% of CubeSmart worth $55,695,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Versant Capital Management Inc grew its position in CubeSmart by 9,614.3% during the fourth quarter. Versant Capital Management Inc now owns 680 shares of the real estate investment trust's stock worth $29,000 after buying an additional 673 shares in the last quarter. Blue Trust Inc. lifted its position in shares of CubeSmart by 74.9% during the 4th quarter. Blue Trust Inc. now owns 675 shares of the real estate investment trust's stock valued at $29,000 after acquiring an additional 289 shares during the period. Jones Financial Companies Lllp grew its holdings in shares of CubeSmart by 134.1% during the 4th quarter. Jones Financial Companies Lllp now owns 679 shares of the real estate investment trust's stock worth $29,000 after purchasing an additional 389 shares in the last quarter. SRS Capital Advisors Inc. increased its position in shares of CubeSmart by 310.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 739 shares of the real estate investment trust's stock worth $32,000 after purchasing an additional 559 shares during the period. Finally, UMB Bank n.a. raised its stake in CubeSmart by 59.4% in the fourth quarter. UMB Bank n.a. now owns 942 shares of the real estate investment trust's stock valued at $40,000 after purchasing an additional 351 shares in the last quarter. Institutional investors and hedge funds own 97.61% of the company's stock.
CubeSmart Trading Up 1.5 %
Shares of CubeSmart stock traded up $0.57 on Tuesday, hitting $38.88. The stock had a trading volume of 294,295 shares, compared to its average volume of 1,435,179. The stock has a 50 day moving average of $41.17 and a 200 day moving average of $44.42. The firm has a market capitalization of $8.90 billion, a P/E ratio of 21.87, a PEG ratio of 11.58 and a beta of 0.85. CubeSmart has a twelve month low of $34.24 and a twelve month high of $55.14. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.20 and a current ratio of 0.20.
CubeSmart (NYSE:CUBE - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The real estate investment trust reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.23. CubeSmart had a net margin of 37.79% and a return on equity of 14.33%. The company had revenue of $231.41 million for the quarter, compared to analysts' expectations of $267.54 million. Sell-side analysts expect that CubeSmart will post 2.64 earnings per share for the current fiscal year.
CubeSmart Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 5.35%. The ex-dividend date of this dividend is Tuesday, April 1st. CubeSmart's dividend payout ratio (DPR) is presently 120.93%.
Analyst Upgrades and Downgrades
Several research firms recently issued reports on CUBE. KeyCorp upgraded shares of CubeSmart from a "sector weight" rating to an "overweight" rating and set a $47.00 price target on the stock in a research report on Thursday, March 6th. Scotiabank downgraded CubeSmart from a "sector outperform" rating to a "sector perform" rating and reduced their target price for the company from $52.00 to $46.00 in a report on Wednesday, March 5th. Jefferies Financial Group cut CubeSmart from a "buy" rating to a "hold" rating and lowered their price target for the stock from $57.00 to $46.00 in a report on Thursday, January 2nd. Mizuho began coverage on CubeSmart in a research note on Wednesday, April 9th. They issued a "neutral" rating and a $39.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft upgraded CubeSmart from a "sell" rating to a "hold" rating and decreased their target price for the company from $46.00 to $45.00 in a research report on Friday, January 10th. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, CubeSmart currently has a consensus rating of "Hold" and a consensus target price of $47.31.
Get Our Latest Report on CUBE
About CubeSmart
(
Free Report)
CubeSmart is a self-administered and self-managed real estate investment trust. The Company's self-storage properties are designed to offer affordable, easily accessible and, in most locations, climate-controlled storage space for residential and commercial customers. According to the 2023 Self-Storage Almanac, CubeSmart is one of the top three owners and operators of self-storage properties in the United States.
Featured Articles
Before you consider CubeSmart, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and CubeSmart wasn't on the list.
While CubeSmart currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
